business
Training is a key element of any successful business. Likewise, identifying and eliminating potentially inefficient training methods is also a necessity. In a world where technology is constantly rewriting the playbooks, the need to stay up-to-date and efficient with the latest tools, processes, and methodologies has become essential to ongoing success. While training is essential, it isn’t easy. Trainers in every industry face unique and significant challenges. Let’s examine the cost of inefficient training for the average company as well as the factors making it hard to invest in effective t...
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As a business leader or an entrepreneur, you need to know customers value your business. But value isn’t just about having a great product; it’s also about the intangible worth— or equity– of your company. Successful, high-value brands know that boosting brand perception and brand equity requires a multi-faceted plan of attack. That means a comprehensive strategy that includes not just the obvious (content, marketing, sales, etc.), but a number of other important components. Think of a brand you know and love, and the delightful little details that keep you intrigued and their employees happy....
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You’ve seen the classic entrepreneur spotlight a million times: a glossy headshot accompanying a headline announcing multi-million dollar Series A fundraise from top-tier venture capitalists. While a venture-backed business tends to get all the limelight, a profitable and bootstrapped company rarely makes comparable headlines. And in the traditional publishing space – the story has been far more doom and gloom than one of exaltation. However, that’s why three friends came together to disrupt a stodgy industry on their own terms via an innovative new approach for creating a profitable business....
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The financial services industry is in the midst of a talent recruiting crisis. Despite signs that the labor market is finally slackening after years of abnormal tightness, financial companies — and nonfinancial employers looking to staff up their money-minded teams — continue to struggle with retention and recruitment. It’s not that careers in finance are suddenly less rewarding than they have been. They’re still as lucrative as before and retain their appeal for a certain subset of highly motivated, ambitious, and competitive workers. But in the new normal, “appeal for a certain subset” is no...
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Hiring is a never-ending cycle for a business. The perpetual process of finding, onboarding, training, and discharging employees isn’t just constant. It’s expensive. Most people have seen the dated statistic that it costs around $5,000 to hire someone. However, the HR professionals at SHRM clarify that this is just the tip of the iceberg. Once you consider the entire impact of employee turnover, it can actually add up to as much as three or four times the position’s annual salary. This makes the hiring process a multi-million-dollar activity. HR reps must race to minimize costs and streamline ...
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Every aspect of an organization contributes to its success. Even so, there’s no doubt that upper management tends to influence the success or failure of their companies more than most, which is why it’s essential to invest in your executive team. A leader’s character, decision-making abilities, confidence, empathy, and other intangibles can make or break a brand. This makes ongoing leadership development an important investment for any organization. Here are five ways you can invest in your executive team. They can lead to stronger leaders, more functional teams, lower turnover costs, and, at ...
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As long as traditional startup companies have existed, so has the reign of venture capital firms. Not every business can become a unicorn or even a decacorn – a private startup worth at least $10 billion. However, the rise of equity crowdfunding platforms has allowed everyday people access to investors and capital. This has been thanks to Regulation Crowdfunding (CF) and Regulation A+. Reg A and CF allow unaccredited investors the opportunity to invest in private companies using SEC-registered funding portals and broker-dealers. It has been 12 years since the Jumpstart Our Business Startups Ac...
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As a retiree, you’ll need a steady stream of income, but you probably won’t want to work that much. One solution to this possibly contradictory dilemma is to build and maintain a business capable of generating income passively – or at least, mostly passively. But what exactly does this mean? How can it help you retire successfully? And how do you ensure your business continues generating income indefinitely? What Is a Passive Income Business?A passive income business, as the name suggests, is any type of business or operation that allows you to make money without having to expend effort to mak...
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While the past several years of historically low-interest rates helped support a red-hot market for companies being sold or raising money at soaring valuations, there have more recently been hiccups in the road brought about by interest rates hitting their highest levels in more than two decades. The higher rate environment has created headwinds in capital markets, impacting venture funding, lending, and mergers and acquisitions. With capital becoming more expensive, investors and buyers have become more discerning with where they put their dollars to work. Despite the tightening cycle that is...
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Successfully marketing your business is a challenge regardless of economic uncertainty. But when its overall performance doesn’t look like it’s going to trend upward, this uncertainty can make you sweat. Your marketing dollars must work harder, while your creative campaigns really need to hit the mark with your audience. Simply put, there is less room for error. If it’s any comfort, even the greats don’t get it right every time. But that doesn’t mean you want to throw caution to the wind when you’re unsure how the economy will perform. Uncertainty leads to anxiety for consumers, too. They star...
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